Ethena Labs has positioned itself as an influential player in the cryptocurrency ecosystem with the development of the synthetic dollar, USDe. As the market becomes increasingly saturated with various stablecoins, Ethena’s recent initiative to launch a decentralized exchange (DEX) named “Ethereal” reflects both a strategic response to competitive pressures and a commitment to enhancing the
Exchanges
Bithumb, a prominent player in South Korea’s cryptocurrency exchange market, has set its sights on the U.S. financial landscape with aspirations for a public listing. Announced during a shareholder meeting on September 30, this intention marks a significant strategic pivot for the exchange, potentially targeting a Nasdaq debut in the latter half of 2025. By
Kraken, a prominent cryptocurrency exchange, has officially announced its plan to discontinue support for Monero (XMR) within the European Economic Area (EEA) by October 31, 2024. This announcement, issued on October 1, reflects a growing concern surrounding regulatory scrutiny in the region. The exchange has detailed that all trading and deposits of various XMR markets—including
In a recent announcement that has raised eyebrows within the cryptocurrency community, Gemini, a well-known crypto exchange, revealed its plans to halt operations in Canada by the end of 2024. This decision was communicated to customers via an email dated September 30, 2023. The email indicated that all customer accounts would be closed by December
The cryptocurrency industry has experienced numerous upheavals, but few events have been as notable as the collapse of FTX, once a titan among cryptocurrency exchanges. Fundamental to this downfall was Caroline Ellison, the former CEO of Alameda Research, who recently received a two-year prison sentence. Alongside this sentence, she has been ordered to forfeit an
In July, WazirX, one of India’s prominent cryptocurrency exchanges, experienced a staggering $230 million hack that sent shockwaves through the crypto community. The incident not only jeopardized WazirX’s operational integrity but also left countless users in a precarious situation regarding their hard-earned assets. In a bid to navigate this tumultuous landscape, WazirX sought a six-month
The cryptocurrency landscape has undergone significant changes in recent years, leading to the proliferation of numerous exchanges. With this growth, consumers face the daunting task of selecting the most suitable platform for their trading needs. Given the high stakes involved in trading digital assets, this decision can profoundly influence an investor’s success. In this guide,
In July, WazirX, one of India’s largest cryptocurrency exchanges, fell victim to a major hacking incident that resulted in the theft of approximately $230 million worth of various cryptocurrencies. With reports from Arkham Intelligence confirming that the hacker is on the verge of laundering the last remnants of these stolen assets, this event underscores the
In an age where digital currencies are reshaping financial landscapes, few regions exhibit the same level of dynamic growth as the United Arab Emirates (UAE). A recent report by Chainalysis not only illustrates the significant uptick in crypto transactions within the UAE but also paints a picture of a balanced, comprehensive adoption strategy that differentiates
As traditional financial institutions grapple with the rise of digital assets, BNY Mellon has made a notable pivot towards the cryptocurrency sector. An exemption granted by the Securities and Exchange Commission (SEC) marks a significant leap for the bank, particularly in its capacity to manage cryptocurrencies like Bitcoin and Ethereum within exchange-traded funds (ETFs). This
